Blog

Try, Adapt, Win Article by Michael Hugos

GrowthFactor.pdf“Business flops result from three big mistakes that companies make repeatedly, says Rita Gunther McGrath, associate professor at Columbia University Graduate School of Business. They accept untested assumptions about their new ventures as facts, they don’t validate those assumptions against changing business data, and they don’t adapt their plans in light of feedback from the market. It doesn’t take long for companies to turn their guesses into gospel—a mere six weeks, McGrath finds. In her book, Discovery-Driven Growth: A Breakthrough Process to Reduce Risk and Seize Opportunity, she suggests processes for evaluating a new venture’s progress and for updating operations based on what they learn.” To read the entire article, please download the attached .pdf.